Ares Management Corporation (NYSE:ARES) Declares Quarterly Dividend of $1.35

Ares Management Corporation (NYSE:ARES) announced a quarterly dividend on Wednesday, October 28th. Stockholders of record on Thursday, December 17th will be paid a dividend of $1.35 per share by the asset manager on Thursday, December 31st. This represents a $5.40 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Thursday, December 17th.

Ares Management has raised its dividend by an average of 0.2% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Ares Management has a dividend payout ratio of 83.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Ares Management to earn $7.17 per share next year, which means the company should continue to be able to cover its $5.40 annual dividend with an expected future payout ratio of 75.3%.

Ares Management Stock Up 3.0%

ARES opened at $127.57 on Friday. The business has a 50 day moving average price of $126.24 and a two-hundred day moving average price of $125.49. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.00. The company has a market cap of $42.13 billion, a PE ratio of 58.52, a P/E/G ratio of 1.12 and a beta of 1.53. Ares Management has a 52 week low of $95.80 and a 52 week high of $181.19.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Thursday, October 29th. The asset manager reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Ares Management had a return on equity of 25.42% and a net margin of 10.63%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period last year, the firm earned $1.15 EPS. The firm’s revenue for the quarter was down 13.5% on a year-over-year basis. As a group, research analysts anticipate that Ares Management will post 5.80 EPS for the current year.

Wall Street Analyst Weigh In

ARES has been the topic of several recent research reports. Wall Street Zen cut shares of Ares Management from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. TD Cowen lowered their target price on shares of Ares Management from $163.00 to $159.00 and set a “buy” rating on the stock in a report on Monday, October 12th. UBS Group lowered their target price on shares of Ares Management from $142.00 to $134.00 and set a “neutral” rating on the stock in a report on Tuesday, October 13th. Barclays dropped their price target on shares of Ares Management from $140.00 to $139.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Finally, Piper Sandler cut their price target on shares of Ares Management from $150.00 to $143.00 and set an “overweight” rating for the company in a report on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $148.26.

Ares Management Company Profile

Ares Management Corporation (NYSE: ARES) is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company manages capital on behalf of institutional investors, pension funds, insurance companies, sovereign wealth funds, family offices and individual investors.

Its investment activities include direct lending and other credit strategies, control and minority investments in private companies, real estate and infrastructure investments, and secondary-market transactions involving private assets and fund interests.